The artist behind one of the biggest sales in this landmark year for non-fungible tokens (NFTs) has done it again. Migwashere and partners made another seismic ripple in the NFTs universe on September 12, 2021, when they launched the Sneaky Vampire Syndicate (SVS).
Sneaky Vampire Syndicate Launches Non-Fungible Tokens Collection
SVS features a collection of Migwashere’s hand-drawn cartoons. These will be released and sold as NFTs. Each artwork is a generative portrait of a vampire with distinct features and appearances. SVS artwork is tokenized to the ERC-721 standard. SVS will allow public minting of its 8,888 NFTs over the next few weeks. The initial cost for each vampire is 0.08Ξ, approximately $313 USD.
However, the vision for SVS takes the NFTs idea a step further. Its formation follows on the heels of the sale of 107 NFTs from Bored Ape Yacht Club. That sale earned $24.4 million at an online auction at Sotheby’s in early September.
Migwashere is an artist with Bored Ape Yacht Club, too!
Migwashere was one of the artists behind Bored Ape Yacht Club. He started SVS with the ambition of duplicating its NFTs club concept. Each owner of a Syndicate NFT gets their own space in an exclusive online community. The launch of the new community will take place in the near future.
2D Survival Game Exclusives Coming Soon
SVS is also planning to launch a 2D survival game exclusively for owners of Syndicate-generated NFTs. The game is currently in development in the studios at Static City Games.
Thanks to the success of the launch, SVS announced it will be donating 45 ETH — approximately $150,000 — to three charities. NFT holders will help make the decision as to the recipient charities.
4,600 New NFT Holders
SVS started with a significant tailwind of support and buzz. This was due largely to Migwashere’s involvement with Bored Ape Yacht Club. After the project team revealed their partnership with Migwashere, the new Syndicate attracted 12,000 Discord pre-launch followers. Non-fungible token community support snowballed.
In the days before it officially started, SVS selected 400 of the new NFTs for a special pre-sale. The sale was targeted to users who interacted with SVS on Discord and Twitter. Users minted up to two of the vampire NFTs before the Syndicate drop.
Even distribution among the New NFT holder base
The weekend of the SVS launch saw 4,600 new NFT holders get on board with the project. Migwashere and his tech team achieved a distribution rate of 52% — an uncommonly high percentage. This was due to their efforts to distribute the vampire tokens as equally as possible among the new NFT holder base.
Buyers reserved their new NFT buys at launch. They had a four-hour time window to finish their acquisitions. The SVS believes this mechanism saved Ethereum users hundreds of dollars in transaction or “gas” fees.
Working to lead — using NFTs as profiles on social
SVS hopes their project will get a boost from wealthier owners using the NFTs as profile pictures on social media. They also hope that a hypothetical resale of the NFT at a higher price down the road will increase the value of all other vampire NFTs in the Syndicate.
Exclusive Online Game Access
The SVS ambitions extend even further into the world of gaming. Migwashere and his team say they want to develop more real-use cases for the blockchain-housed tokens.
A vampire-fighting game represents the first conduit for the SVS’s utilization ideas.
The vampire-fighting game is currently in development — and well sought after in the NFT space and gaming community. The as-yet-untitled browser-based game will be offered only to verified SVS non-fungible token holders who will use their tokens in the game. Players will use a variety of weapons and tactics to battle ill-mannered groups of zombies, werewolves, skeletons, and vampire hunters.
An in-game bite mechanic will allow players to abscond with lives from enemy characters at the price of their character being “rooted in place,” according to lead developer Woof. The game will feature infinitely increasing difficulty levels. A leaderboard will display the players that have survived the longest.
Future Steps on the Syndicate Roadmap
Hey NFT holders, just like dogs and mutant apes — you can now receive your free companion bat!
The SVS website reveals the release schedule for upcoming bonus items only available to non-fungible token holders. All vampires received a special giveaway item during the first week of the Syndicate. NFT holders will get a free companion bat. These are similar to the dogs and mutant apes distributed in the Bored Ape Yacht Club. The plan is to offer additional merchandise within the next few weeks.
The Lair represents the heart of the SVS project. The exclusive online club will let vampires interact with each other in the Syndicate Metaverse. The Syndicate has more milestones in the works.
A New Twist in the Steamrolling NFTs Business
The SVS offering reinforces the dynamics of the NFTs craze, which is starting to look more like a confirmed enterprise than a fad.
The idea for SVS emerged from conversations between Migwashere and friends shortly after the artist left the Bored Ape Yacht Club. The team looked to inject new life into the character-based NFTs sphere with a project that responded more meaningfully to pop culture.
The team also wanted to take the utilization aspect of NFTs to a new level. The first few weeks of the NFTs buying spree, they believed, simply reflected the tokens’ value as investments in “profile picture projects.”
The NFTs binge has proven to be one of the most disruptive forces in the art world in generations.
NFT collections have upended staid auction house and art gallery traditions with high-profile, high-value purchases regularly happening at venerable outlets like Sotheby’s and the Uffizi Gallery.
Finally realized — a new revenue stream for deserving artists
Perhaps more importantly, the popularity of NFTs has provided artists with an entirely new revenue stream that has eluded many of them in the 21st century. For Migwashere’s part, the SVS has endowed him with a new sense of freedom and ownership that he was looking for upon leaving Bored Ape Yacht Club.
The New Era for Digital Art — NFTs Collections
“NFTs hold some incredible potential with what they can bring to our future,” he said in an interview with Grit Daily. “It is evident and clear that this is just the beginning of a great era of digital art. We could not be more proud to be able to participate and engage in such a promising time.”